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You are about to prepare the extended trial balance for one of your clients. Where would the following general ledger accounts normally appear, and would
You are about to prepare the extended trial balance for one of your clients. Where would the following general ledger accounts normally appear, and would normally expect a debit or a credit balance? Tick the appropriate boxes BELOW: Debit Credit Revenue Expense Asset Liability Equity Balance Sheet Income Statement X X X Bank loan (SAMPLE) Bank overdraft Owner's equity Cash Income tax payable Cost of goods sold Accounts payable Accounts receivable Depreciation expense Owner's withdrawals Equipment cost Unearned revenue Insurance expense Interest received Vehicle expenses Prepaid expenses Sales Supplies expenses Land GST/HST payable Telephone expenses Wages expenses Inventory Credit card owing
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